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Stocks plummeted at the close of business on Monday. The Dow Jones closed below 11,000 for the first time since November. It dropped more than 600 points after investors got anxious following the Standard & Poor's U.S. credit downgrade.

Stocks fell across the board with the S&P closing down almost seven percent, numbers similar to the Nasdaq. More than 69 stocks fell for every one that rose on the NYSE on Monday. Trading volume was heavy.

Investors are worried about the slowing U.S. economy and escalating debt problems threatening Europe. Money flowed out of stocks and into safer investments, including Treasurys and gold.

It's the second time in a week the Dow has seen significant drops.

The latest sell-off came on the heels of the S&P dropping the credit rating of the United States to AA+ from it's previously stellar AAA rating.

President Barack Obama held a national news conference Monday afternoon announcing that he and the world's investors still believe the United States is still a AAA country.